| SB 0160 | Prohibits an insurer from refusing to insure an eligible person's interest in certain residential property |
| Sponsor: | Bland | |||
| LR Number: | 0444S.01I | Fiscal Note: | 0444-01 | |
| Committee: | Insurance and Housing | |||
| Last Action: | 01/22/01 - Second Read and Referred S Insurance and Housing | Journal page: | S124 | |
| Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 2001 | |||
SB 160 - Under this act, an insurer may not refuse to insure an eligible person's interest in residential property. The act requires insurance agents to provide prospective insureds accurate premium quotations for their property and obligates the agent to submit the insured's application for insurance to the insurer. The insurer shall explain to each prospective insured why it is canceling or refusing to renew a policy. An insurer shall not penalize an individual agent because of the geographic location of the business written by the agent.
This act is identical to SB 677 (2000).
STEPHEN WITTE